Walvax Biotech will acquire 64% of Shanghai¡¯s Genor BioPharma via two transactions, paying a total of 290 million RMB ($49 million). Genor Biopharma, which was formed by China¡¯s Wison Group conglomerate, specializes in MAbs and other biologic drugs. It develops its own drug candidates and partners with other biopharmas. Walvax intends to acquire 100% of Genor. In September, when rumors of the transaction first surfaced, it was also thought that Walvax would IPO Genor in the US.